personal vendettas behind them, and once that is achieved they will be able to come together in one union. >> if we go over the cliff, the stocks and the market take a hit, you know. what happens then? what happens? there's no way to sort of retroactively fix a recession. i know everyone is confident, hey, we can go over the cliff and we'll fix it, but what happens if the markets take a 20% nose dive? >> joining me now to discuss the immediate tax implications if the u.s. goes over the fiscal cliff is linda, president of taxmasters in rockville. linda, thank you. >> we're all concerned about the fiscal cliff. our minds are preoccupied. first question what will the average taxpayer see if, in fact, we go over the fiscal cliff? >> everybody starting in january who makes under $110,000 will lose immediately 2% of this auto paycheck. >> that's a lot. so aperson making $75,000, family of four, how much of a difference will that make do you think in their typical paycheck? >> it could be somewhere between $40 and 60, depending on their benefits that they get. but for a normal family it could be